Connor Clark & Lunn Investment Management Ltd. Invests $2.01 Million in Crown Holdings, Inc. (NYSE:CCK)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Crown Holdings, Inc. (NYSE:CCK) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 24,347 shares of the industrial products company’s stock, valued at approximately $2,013,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Tidal Investments LLC lifted its holdings in shares of Crown by 121.3% during the 3rd quarter. Tidal Investments LLC now owns 21,997 shares of the industrial products company’s stock valued at $2,109,000 after acquiring an additional 12,058 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of Crown by 19.3% during the fourth quarter. Nordea Investment Management AB now owns 1,095,382 shares of the industrial products company’s stock worth $90,511,000 after purchasing an additional 176,959 shares in the last quarter. Natixis Advisors LLC boosted its position in shares of Crown by 10.4% in the third quarter. Natixis Advisors LLC now owns 171,080 shares of the industrial products company’s stock worth $16,403,000 after buying an additional 16,050 shares during the period. Metropolis Capital Ltd grew its stake in shares of Crown by 68.7% in the fourth quarter. Metropolis Capital Ltd now owns 2,456,357 shares of the industrial products company’s stock valued at $203,116,000 after buying an additional 1,000,605 shares in the last quarter. Finally, Quest Partners LLC raised its holdings in shares of Crown by 3,676.8% during the 3rd quarter. Quest Partners LLC now owns 9,593 shares of the industrial products company’s stock valued at $920,000 after buying an additional 9,339 shares during the period. 90.93% of the stock is owned by institutional investors and hedge funds.

Crown Trading Up 0.3 %

Shares of NYSE CCK opened at $90.46 on Wednesday. The stock has a market capitalization of $10.63 billion, a P/E ratio of 25.41, a PEG ratio of 1.56 and a beta of 0.88. The stock’s 50 day moving average price is $87.31 and its two-hundred day moving average price is $89.54. The company has a quick ratio of 0.80, a current ratio of 1.22 and a debt-to-equity ratio of 1.88. Crown Holdings, Inc. has a 52-week low of $70.84 and a 52-week high of $98.46.

Crown (NYSE:CCK) last posted its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.08. Crown had a return on equity of 25.12% and a net margin of 3.59%. On average, analysts anticipate that Crown Holdings, Inc. will post 6.96 earnings per share for the current fiscal year.

Crown Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend is Tuesday, March 18th. This is an increase from Crown’s previous quarterly dividend of $0.25. Crown’s dividend payout ratio is currently 29.21%.

Analyst Ratings Changes

A number of equities analysts have weighed in on CCK shares. Truist Financial increased their price objective on shares of Crown from $103.00 to $104.00 and gave the company a “hold” rating in a research report on Monday, January 6th. Bank of America dropped their price target on shares of Crown from $107.00 to $101.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Mizuho cut their price objective on shares of Crown from $110.00 to $100.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. UBS Group lowered their target price on Crown from $113.00 to $108.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Finally, Morgan Stanley upgraded Crown from an “equal weight” rating to an “overweight” rating and cut their price target for the stock from $109.00 to $105.00 in a research note on Monday, January 13th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $106.00.

About Crown

Crown Holdings, Inc, together with its subsidiaries, engages in the packaging business in the United States and internationally. It operates through Americas Beverage, European Beverage, Asia Pacific, and Transit Packaging segments. The company manufactures and sells recyclable aluminum beverage cans and ends, glass bottles, steel crowns, aluminum caps, non-beverage cans, and aerosol cans and closures.